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CHAPTER 18: FORM AND INTERPRETATION OF CONTRACTS

CHAPTER 18: FORM AND INTERPRETATION OF CONTRACTS. CHAPTER 18: FORM AND INTERPRETATION OF CONTRACTS. Learning Objectives: Statute of Frauds Exceptions to the Statute of Frauds Common Law Exceptions Code Exceptions Parol Evidence Rule Construction and Interpretation of Contracts.

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CHAPTER 18: FORM AND INTERPRETATION OF CONTRACTS

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  1. CHAPTER 18: FORM AND INTERPRETATION OF CONTRACTS

  2. CHAPTER 18: FORM AND INTERPRETATION OF CONTRACTS Learning Objectives: Statute of Frauds Exceptions to the Statute of Frauds Common Law Exceptions Code Exceptions Parol Evidence Rule Construction and Interpretation of Contracts Chapter 18

  3. STATUTE OF FRAUDS • Approach: Certain contracts have to be in writing to be enforceable. Chapter 18

  4. STATUTE OF FRAUDS • Approach: Certain contracts have to be in writing to be enforceable. • Which types of contracts have to be in writing to be enforceable? Chapter 18

  5. Contracts That Need To Be in Writing • Guaranty Contracts • Applies to Secondary Contracts ONLY • Determining the main purpose Chapter 18

  6. Contracts That Need To Be in Writing • Guaranty Contracts • Contracts Involving Interests in Land • Types: • Entire interest • Easements • Leases (for more than one year) • Exception: Part Performance Chapter 18

  7. Contracts That Need To Be in Writing • Guaranty Contracts • Contracts Involving Interests in Land • Contracts That Cannot be Performed Within One Year Chapter 18

  8. Contracts That Need To Be in Writing • Guaranty Contracts • Contracts Involving Interests in Land • Contracts That Cannot be Performed Within One Year • Contracts for the Sale of Goods (Code) Chapter 18

  9. Contracts That Need To Be in Writing • Guaranty Contracts • Contracts Involving Interests in Land • Contracts That Cannot be Performed Within One Year • Contracts for the Sale of Goods (Code) • Contracts for the Sale of Personal Property Other Than Goods (Code) Chapter 18

  10. STATUTE OF FRAUDS • Approach: Certain contracts have to be in writing to be enforceable. • Which types of contracts have to be in writing to be enforceable? • Writing Required to Satisfy the Statute of Frauds Chapter 18

  11. Writing To Satisfy the Statute of Frauds • Under Common Law • Who? • Kind of Writing? • Under Code Provisions • Who? • Kind of Writing? Chapter 18

  12. EXCEPTIONS TO THE STATUTE OF FRAUDS • Common Law Exceptions • Part Performance • Promissory Estoppel • Code Exceptions • Written Confirmation Between Merchants • Specially Manufactured Goods • Judicial Admissions • Part Performance Chapter 18

  13. PAROLE EVIDENCE RULE • Theory: Oral and written information that is prior to or contemporaneous with the formation of a written contract is excluded. • Exceptions • Importance Reduced in the Code Chapter 18

  14. CONSTRUCTION AND INTERPRETATION OF CONTRACTS • Unambiguous Language • Ambiguous Language • Ordinary meaning • Contract as a whole • Construed against drafting party Chapter 18

  15. CHAPTER 18: FORM AND INTERPRETATION OF CONTRACTS

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